Staying Current on GRI Guidance - SustainabilityNext GRI has attempted to simplify and clarify the approach to materiality in the revised guidance and to deemphasize stakeholders’ input to influence the prioritization of material topics (see FAQ for further explanation)
EU Corporate Sustainability Reporting Directive Materiality . . . The guidance contains an illustrative materiality assessment process for undertakings It also discusses impact and financial materiality, providing examples and indicating how these two concepts relate to each other
Regulatory Shifts in ESG: What Comes Next for Companies? The revised ESRS will likely reduce mandatory data points, prioritize quantitative over qualitative information, and simplify ESRS presentation and structure While the double materiality assessment remains a requirement, further guidance will clarify the double materiality principle
Transparency and Relevance: How to Succeed in Materiality . . . The ESRS mandate the performance of a double materiality assessment as the starting point for reporting But what exactly does “double materiality” entail? When should one commence the materiality assessment? And what specific steps are necessary to efficiently and purposefully identify the material topics for your company?
Conducting a materiality assessment following GRI and ESRS . . . While the ESRS does not prescribe a step-by-step process for materiality assessment, it provides some guidance on the determination of impact materiality and financial materiality It distinguishes between negative and positive impacts on impact materiality
GRI Standards Revisions Part 3: Revising Materiality As the most significant update since 2016, the revised standards include clarified guidance on disclosure of material topics, consolidation and streamlining of certain disclosure topics, as well as revised approaches to reporting
GRI Standards Update: What’s Coming? And What Does It Mean . . . To meet growing demand from stakeholders for transparency, GRI revised its Universal Standards in 2021 At the highest level, the revisions address the integration of human rights, how materiality is determined and growing regulatory requirements